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FTX the second largest crypto exchange just went bankrupt a coindesk article out of nowhere reveals something very scary about Alameda which is ftxamp;#39;s more or less sister company all owned by SBF Alameda had 14.6 billion dollars of assets 5.8 billion dollars was in ftt their own which is almost half of their total Holdings on top of that it had 8 billion dollars worth of liabilities CZ takes this opportunity to basically pull a 360 no scope headshot on his biggest competitor so on November 6th he announced publicly that binance is going to dump their entire ftt stack over the next couple days it crashed 90 on Tuesday November 8th FDX stopped processing withdrawals CZ confirmed that binance entered a deal with FTX to fully buy them out binance stated that they were quote staring into a black hole and pulled out of the deal Friday November 11th SBF filed all three companies for a chapter 11 bankruptcy